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Jan 31, 2013
01/13
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quarter, defense spending fell off the fiscal cliff. as lawmakers bickered, manufacturers who make things for the pentagon cut back production sharply-- defense spending fell 22% in the latest g.d.p. report, tipping the economy into the red. >> certainly manufacturers are pulling back and i think this is a bit of a wake up call that these cuts are real and that they have real effects on the economy. >> reporter: economists and markets did not panic over the drop into the red, because the economy is still showing signs of solid growth. businesses are still buying equipment and software. housing continues to bounce back. and consumer spending held up well, expanding at an annual rate of 2.2%. >> so if you look through some of the volatile components, demand underneath was solid and it doesn't suggest the economy is losing momentum. so a scary headline number isn't as bad as it seems when you look underneath. >> reporter: and that's what economists say federal reserve policy makers did. after studying the economy for two days, chairman ben
quarter, defense spending fell off the fiscal cliff. as lawmakers bickered, manufacturers who make things for the pentagon cut back production sharply-- defense spending fell 22% in the latest g.d.p. report, tipping the economy into the red. >> certainly manufacturers are pulling back and i think this is a bit of a wake up call that these cuts are real and that they have real effects on the economy. >> reporter: economists and markets did not panic over the drop into the red,...
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Jan 2, 2013
01/13
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if we had gone off the fiscal cliff, would it have hurt the economy? sure, no question. however, if we go off the debt limit cliff, that will have dire implications for not only our economy, but the world economy, and house republicans are very much aware of this. i spoke to a number of house republicans who are very close to leadership and they kept reiterating they shed too much blood on this tax hike, but they are preparing their powder for this debt limit. the idea president obama is not going to negotiate over it, i think, is going to be very difficult, because house republicans see this as their trump card. they are willing to bring the president, bring the economy as close to the edge, as close to the knees, as they can in exchange for spending cuts. boehner has this rule he very much believes in. boehner now, especially after this, has to appear strong to his conference. they are going to ask for an exchange for every dollar the debt limit has raised for adjoining spending cut, not to mention, joanne, they know some concessions democrats are willing to make, medi
if we had gone off the fiscal cliff, would it have hurt the economy? sure, no question. however, if we go off the debt limit cliff, that will have dire implications for not only our economy, but the world economy, and house republicans are very much aware of this. i spoke to a number of house republicans who are very close to leadership and they kept reiterating they shed too much blood on this tax hike, but they are preparing their powder for this debt limit. the idea president obama is not...
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Jan 24, 2013
01/13
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cliff and the debt ceiling. the american economy somebody very important to the global economy. we cannot have the kind of nonsense we've had going on in the building behind me and think that that's going to be either good foreign policy or economic policy for around the globe, not just here at home. i think he was trying to remind people we do live in a global economy. it is interconnected and that that does impact our foreign policy and our defenses. >> it clearly does. michael, the outgoing secretary of state said, and i'm quoting her, we are facing a spreading hi hjihadist threat across nort africa. is it your view that the attack on the consulate in libya, the hostage taking at that gas plant in algeria, and the conflict in mali mean that north africa is now the main front for islamic terrorism and how does a new secretary of state confront this? >> great question. i don't know that i would say it's the main front, but it is certainly a serious front and a serious set of interlocked issues. one thing we hav
cliff and the debt ceiling. the american economy somebody very important to the global economy. we cannot have the kind of nonsense we've had going on in the building behind me and think that that's going to be either good foreign policy or economic policy for around the globe, not just here at home. i think he was trying to remind people we do live in a global economy. it is interconnected and that that does impact our foreign policy and our defenses. >> it clearly does. michael, the...
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. >> lawmakers debate whose taxed in the fiscal cliff talk there's is another tax cut that expired fa that affects everybody. social security payroll tax reduced by a third in 2010. idea to stimulate the economy this, year goes up to 6.2%. and that means that a person with a gross gros income of $50,000 will pay $1,000 more in taxes this year, most people are not happy to see hold tax rate return. >> trying to save up to buy a house. so looking at how much it will be going up, i don't know if i'll be able to afford it as soon as i want to. >> it's paycheck to paycheck z this is just going to make it tougher for us. >> the increase is expected to generate $125 billion for the federal budget. economists warn we should expect a similar reduction in consumer spending. >> san francisco police need your help to catch shooter who's injured three people during a new year's eve celebration. a 12-year-old boy sitting in front of pier 23 rest spot was hit in the ankle. he was taken to the hospital and is he expected to be okay. a bullet grazed a man sitting next to him. >> out pops, we weren't s
. >> lawmakers debate whose taxed in the fiscal cliff talk there's is another tax cut that expired fa that affects everybody. social security payroll tax reduced by a third in 2010. idea to stimulate the economy this, year goes up to 6.2%. and that means that a person with a gross gros income of $50,000 will pay $1,000 more in taxes this year, most people are not happy to see hold tax rate return. >> trying to save up to buy a house. so looking at how much it will be going up, i...
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cliff or at least kick the fiscal cliff down the road another two months setting up yet another opportunity for republicans to hold the entire economy ah speech and despite president obama and some democrats declaring victory after republicans were forced to sign on to a small tax increase for the wealthiest americans this fiscal cliff deal is actually a dream come true for billionaires and banks toure's not only does it keep in place most of the bush tax cuts for ever it also gives massive tax breaks to the wealthiest americans and transnational corporations while giving americans who are in less than one hundred thousand dollars a year a tax increase since the payroll tax cut was not extended most working americans will see their taxes go up by as much as twenty two hundred dollars a year for corporations like goldman sachs which just got one point six billion dollars for the new headquarters in this bill g.e. and big japanese. in hollywood movie studios will get hundreds of billions of dollars in tax loopholes thanks to the republicans and some of the democrats that they own on top of th
cliff or at least kick the fiscal cliff down the road another two months setting up yet another opportunity for republicans to hold the entire economy ah speech and despite president obama and some democrats declaring victory after republicans were forced to sign on to a small tax increase for the wealthiest americans this fiscal cliff deal is actually a dream come true for billionaires and banks toure's not only does it keep in place most of the bush tax cuts for ever it also gives massive tax...
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Jan 2, 2013
01/13
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cliff avoidance. actually the -- the economy and the investment markets are being affected negatively by this package. >> well, in one of my takes, bill, is that we're underestimating the importance of the capital gains rate and the dividend rate which will now at the top end be only 20%, not the 40% that had been feared. that has to be a big positive for investors out there, doesn't it? >> well, i think it does. you know, to be fair, the market never really anticipated that it would go all the way up, and the rate is actually 23.5% because of, you know, some additional overlays on top of it. >> right. >> so capital gains taxes are going from 15 to 23.5, and that's not a positive. but let's not be grinchy about all of this. we like higher stock prices and higher bond prices as well, but ultimately you come to a point really where, you know, the government in terms of this current package, you know, hasn't addressed spending but has addressed taxation which, you know, experts about a 1.5%, what we call
cliff avoidance. actually the -- the economy and the investment markets are being affected negatively by this package. >> well, in one of my takes, bill, is that we're underestimating the importance of the capital gains rate and the dividend rate which will now at the top end be only 20%, not the 40% that had been feared. that has to be a big positive for investors out there, doesn't it? >> well, i think it does. you know, to be fair, the market never really anticipated that it...
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the fiscal cliff was chalk full of that, it cams back to haunt you, it haunts our economy, this is why a caterpillar can sell 75% outside of the country, the problem is to all freebies from federal reserve and federal government made companies in america, sloppy and flaccid there is no rush for them to go out and do the right thing. neil: and the expectations, where even if we run into a buzzsaw, the government has got our back, that does give you a cushion of cockiness. >> you never know which side you are going to be on. on the side of the winners or losers? neil: i'm on the side of america, i have no idea what that means. >> the government is in the business of picking winners and losers, at best scandal and corruption problems and worse the economy -- >> i think not want to charles we hit october highs in 2007 we were months away from one of the worst meltdowns, i think we're like lemmings kind of just being led into something that we night regret. >> i don't disagree, we're not at that point where everyone is so enthusiastic andou know market. at some great oracle fell one money b
the fiscal cliff was chalk full of that, it cams back to haunt you, it haunts our economy, this is why a caterpillar can sell 75% outside of the country, the problem is to all freebies from federal reserve and federal government made companies in america, sloppy and flaccid there is no rush for them to go out and do the right thing. neil: and the expectations, where even if we run into a buzzsaw, the government has got our back, that does give you a cushion of cockiness. >> you never know...
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Feb 13, 2013
02/13
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the talk of sequestration and fiscal cliffs, austerity will hurt us badly. >> john: i want to ask you a quick followup before we bring others in. we heard about the cries that the stimulus was not big enough and we need to spend more. and austerity punishes the middle class for the sins of the upper class that the middle class was not even privy to. do you think the president has bought into what his opponents say, or has he always believed it. >> i think he's more moderate than i would like to see him. i think his instinct is towards this austerity. he bailed out of the position as soon as he appointed a budget balancing legislation led by two conservatives. a conservative democrat and very conservative republican alan simpson. he stopped talking about jobs since 2011. a little hiatus here a there were. he started talking thank goodness for jobs when the election started to approach. what are his instincts? he may well believe the issues. it's not an issue for four or five years and longer. >> john: in fairness 2011 was when he pitched the johns program, and our republican friends ki
the talk of sequestration and fiscal cliffs, austerity will hurt us badly. >> john: i want to ask you a quick followup before we bring others in. we heard about the cries that the stimulus was not big enough and we need to spend more. and austerity punishes the middle class for the sins of the upper class that the middle class was not even privy to. do you think the president has bought into what his opponents say, or has he always believed it. >> i think he's more moderate than i...
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Mar 13, 2013
03/13
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it is true that going over the fiscal cliff could have been horrendous and it destroyed confidence, but it certainly cured that. ever since then, the economy is better than anyone seeps to want to talk about. we hear talk that it isn't. those bears endlessly drumming these negatives into our heads and they're thumb-seeking theorists. they're not schooled in the real world of companies as i am. they don't look bottoms up and talk to the walmarts and the costcos. they look up to down and the bears are wrong. they'll remain wrong so long as they're focused on politics. >> if ied had focused i would have had a horrendous year. same goes for you if you financial networkous politics in 2013. stocks are cheaper than they were in 1996 courtesy of the pessimism enjendzerred by politics and the hang ore by the great recession. we see from the buybacks and dividend boosts and takeovers that they're deliciously low. corporate balance sheets have cash and any credit-worth company can easily borrow to buy more stock or acquire other businesses and so can any individual for that matter, lowering any d
it is true that going over the fiscal cliff could have been horrendous and it destroyed confidence, but it certainly cured that. ever since then, the economy is better than anyone seeps to want to talk about. we hear talk that it isn't. those bears endlessly drumming these negatives into our heads and they're thumb-seeking theorists. they're not schooled in the real world of companies as i am. they don't look bottoms up and talk to the walmarts and the costcos. they look up to down and the...
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Jan 1, 2013
01/13
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is really at stake, people's taxes are at stake, and if we go over the fiscal cliff, individuals will see taxes go up by $2,000, there is a lot of pressure on congress and white house to take action. that pleasure is playing a huge role. >> kristen welker and kelly o'donnell, thank you, both. we continue our breaking coverage of fiscal cliff talks and what appears to he about a last-minute break through when we come back. please stay with us. ♪ [ male announcer ] why do more emergency workers everywhere trust duracell...?? duralock power preserve. locks in power for up to 10 years in storage. now...guaranteed. duracell with duralock. trusted everywhere. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. [ ship horn
is really at stake, people's taxes are at stake, and if we go over the fiscal cliff, individuals will see taxes go up by $2,000, there is a lot of pressure on congress and white house to take action. that pleasure is playing a huge role. >> kristen welker and kelly o'donnell, thank you, both. we continue our breaking coverage of fiscal cliff talks and what appears to he about a last-minute break through when we come back. please stay with us. ♪ [ male announcer ] why do more emergency...
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Jan 24, 2013
01/13
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FBC
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fail to take advantage of the fiscal cliff moment, get in front of the debt ceiling, and they cannot do anything that would create anton the gun debate is going on. it does not make any sense right now. lou: we will come back with "a-team." trying to roll the republicans. it does not look like they're going to get close. we will have a lot more fun about this. how well the republicans do. it will take that up. and coming up tomorrow, the governor of the great state of nebraska joins us approving the keystone xl pipeline today. he will be here to talk pipeline politics and business. conservative columnist and author, a pulitzer prize-winning journalist among our guests it's evolved as the be with us. please go to loudobbs.com to get the last hour facebook page. twitter. ♪ aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ ♪ lou: defense secretary leon panetta tomorrow will formally lift th
fail to take advantage of the fiscal cliff moment, get in front of the debt ceiling, and they cannot do anything that would create anton the gun debate is going on. it does not make any sense right now. lou: we will come back with "a-team." trying to roll the republicans. it does not look like they're going to get close. we will have a lot more fun about this. how well the republicans do. it will take that up. and coming up tomorrow, the governor of the great state of nebraska joins...
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Jan 16, 2013
01/13
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cliff was reaching a maximum. you know, maria, you think that's pretty encouraging that the economy has managed to cope with a high level of uncertainty. now the thing that kind of bothers me though is i'm a little bit worried that this coping is flipping over to complacency. the vix is now at a six-year low, and it tells me that the market is discounting 100% probability that we get through the debt ceiling without any trouble. that seems too high to me. >> so do you think the market is expecting that? i mean, when would you expect a big change in terms of the interest rate scenario? >> in terms of the interest rate scenario, probably nothing this year. i mean, we're at least a couple years away from a higher move -- a move higher in interest rates. what i think is perhaps more likely to hit the market is signs towards the end of the year that the fed is going to come to an end in terms of additional quantitative easing. not only do we have perhaps gathering evidence that the economy is getting better and doesn't
cliff was reaching a maximum. you know, maria, you think that's pretty encouraging that the economy has managed to cope with a high level of uncertainty. now the thing that kind of bothers me though is i'm a little bit worried that this coping is flipping over to complacency. the vix is now at a six-year low, and it tells me that the market is discounting 100% probability that we get through the debt ceiling without any trouble. that seems too high to me. >> so do you think the market is...
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Jan 5, 2013
01/13
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cliff bill, for instance, how do members of congress -- and the president signed that bill in sort of -- good faith, knowing that people in my home town with small businesses, they don't really get much out of it, but you get perks for goldman sachs and hollywood gets a good deal, all of these special interests and they sell it to us as this great, grand thing they have done, when they have given their buddies little perks? >> once again, i think that's the separation between washington, d.c. and the people of the united states of america. when you look at that fiscal cliff bill that i voted no against, and i was glad that that was my last vote because i think it sent a very principled message. 41 -- the ratio of 41-1 to tax hikes and spending cuts. you and i have well talked about this, 200 to 300 billion dollars in duplicative programs. we have not done anything about that -- >> why not, though? why don't they care? it seems indecent -- i take it all the way to the white house, all the way down throughout the federal government, where is the sense of decency or common sense you? can
cliff bill, for instance, how do members of congress -- and the president signed that bill in sort of -- good faith, knowing that people in my home town with small businesses, they don't really get much out of it, but you get perks for goldman sachs and hollywood gets a good deal, all of these special interests and they sell it to us as this great, grand thing they have done, when they have given their buddies little perks? >> once again, i think that's the separation between washington,...
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Jan 5, 2013
01/13
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cliff bill, how do members of congress and the president sign that bill into -- in good faith knowing that people in my hometown who own small businesses, they don't get much out of it, but you get lots of perks for people like goldman sachs gets a good deal and hollywood and special interests and try to sell it to us as a great, grand things they've done for us, when they've given their buddies once again little perks? >> once again, i think that's the separation between washington d.c. and the people of the united states of america. when you look at that fiscal cliff bill that i voted no against, and i was glad that that was my last vote because i think it sent a very principled message. 41, the original 41-1 as far as tax hates to spending cuts, greta you and i have well talked about this duplicative programs, we've not done anything about that. >> greta: why not? why don't they care. it almost seems indecent, from the president, the top through the white house, all the way through the federal government. you know, where is the sort of sense of decency or even common sense. you can
cliff bill, how do members of congress and the president sign that bill into -- in good faith knowing that people in my hometown who own small businesses, they don't get much out of it, but you get lots of perks for people like goldman sachs gets a good deal and hollywood and special interests and try to sell it to us as a great, grand things they've done for us, when they've given their buddies once again little perks? >> once again, i think that's the separation between washington d.c....
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Mar 12, 2013
03/13
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cliff tax hike was not enough for senate democrats. they want more. that is shocking. a lot more. $975 billion more in tax hikes. here now, though, the latest cnbc contributor, robert cost at that, washington editor for the national review and he's going to do something very rare. he's going to preview and promo and analyze the democrats. hello, robert. >> good to see you, larry. the democrats today unveiled their budget and what's the top -- the lead story here? it's $1 trillion in tax hikes. what's so interesting about this, for four years, democrats have avoided doing a budget. now senate democrats finally have to own up that they're a tax hiking party, this is going to have 2014 implications, interesting to see if democrats can even get 51 votes on this plan. >> what is wrong with that party? i believe my good and dear friend who is so bright, jerryd bernstein, who is joining us tonight, is inconceivable he can be a member of that party, a party which makes no sense at all. i understand disagreements. you don't have to be perfect.
cliff tax hike was not enough for senate democrats. they want more. that is shocking. a lot more. $975 billion more in tax hikes. here now, though, the latest cnbc contributor, robert cost at that, washington editor for the national review and he's going to do something very rare. he's going to preview and promo and analyze the democrats. hello, robert. >> good to see you, larry. the democrats today unveiled their budget and what's the top -- the lead story here? it's $1 trillion in tax...
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a bond-buying program that's designed to stimulate our economy. those numbers are still settling down, but the dow is down 21 points, nasdaq off 11, the s&p down about 3. >>> nfl revs have made a lot of headlines this season. today they were the talk of the town for redskins fans, too. here's why. remember this? it's from back in october when the skins played the steelers. deangelo hall got ejected for verbally berating an official. earlier today it was announced the linesmen involved in that, mckenzie was scheduled to work the game on sunday. a few hours later, another set of tweets came out. those said mckenzie would not be working the game after all. no word on exactly why that change was made. >>> we want to see your redskins spirit. send us your pictures of your kids, your house or you decked out in your burgundy and gold. e-mail us horrid tweet us, and use that hash tack of "skinsfans." >>> your cat, your dog, anything. >>> coming up a maryland pizza driver gets robbed, then something else happened. >> he sucker punched me in the face agains
a bond-buying program that's designed to stimulate our economy. those numbers are still settling down, but the dow is down 21 points, nasdaq off 11, the s&p down about 3. >>> nfl revs have made a lot of headlines this season. today they were the talk of the town for redskins fans, too. here's why. remember this? it's from back in october when the skins played the steelers. deangelo hall got ejected for verbally berating an official. earlier today it was announced the linesmen...
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Mar 19, 2013
03/13
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if we go over the fiscal cliff, i have to react. so i know where i need to pull back. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. departure. hertz gold plus rewards also offers ereturn-- our fastest way to return your car. just note your mileage and zap ! you're outta there ! we'll e-mail your receipt in a flash, too. it's just another way you'll be traveling at the speed of hertz. >>> welcome >>> welcome back, everybody. the chairman and c
if we go over the fiscal cliff, i have to react. so i know where i need to pull back. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea...
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Jan 24, 2013
01/13
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cliff, and we're getting all these earnings out that seem to be showing an improving economy. >> that's a good question, bill. i mean, this question over whether it's the fed is almost self-evident. last year the new york fed put out a report that says it's all about us. to answer your question, i just think we're getting this kind of crazy relief rally off of the fiscal cliff stuff and a little bit of clarity in washington and everyone has pushed the bad news to the back page, but, you know, two things you have to think about is when does the fed stop and why does it stop? now -- and that's going to come down to two questions. does it stop because the economy or improving or because inflation gets out of control? if it's the first reason, that's good. if it's the second reap, that's bad, and the people i talked to on wall street are getting much more concerned about the second reason and what happens if inflation get ahead of the fed and they are no longer -- they don't have that power anymore to control the markets. >> to that point, bob, do you have an estimate on when you think the
cliff, and we're getting all these earnings out that seem to be showing an improving economy. >> that's a good question, bill. i mean, this question over whether it's the fed is almost self-evident. last year the new york fed put out a report that says it's all about us. to answer your question, i just think we're getting this kind of crazy relief rally off of the fiscal cliff stuff and a little bit of clarity in washington and everyone has pushed the bad news to the back page, but, you...
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Dec 18, 2013
12/13
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and that was before the fiscal cliff deal, which even -- created even more fiscal headwinds for the economy. of course, we're now at 7%. i'm not saying that the asset purchases made all that difference, but it made some of the difference. and i think it has helped create jobs. you can see how it works. i mean, the asset purchases brought down long-term interest rates, brought down mortgage rates, brought down corporate bond yields, brought down car loan interest rates. and we've seen the response in those areas as the economy has done better. moreover, again, this has been done in the face of very tight, unusually tight, fiscal policy for a recovery period. i think it's been effective, but the precise size of the impact is something i think that we can very reasonably disagree about and the work will continue on. as i said before, the uncertainty about the impact and the uncertainty about the effects of ending programs and so on is one of the reasons why we have treated this as a supplementary tool rather than as our primary tool. >> don li, l.a. times. unemployment benefits, as you know, a
and that was before the fiscal cliff deal, which even -- created even more fiscal headwinds for the economy. of course, we're now at 7%. i'm not saying that the asset purchases made all that difference, but it made some of the difference. and i think it has helped create jobs. you can see how it works. i mean, the asset purchases brought down long-term interest rates, brought down mortgage rates, brought down corporate bond yields, brought down car loan interest rates. and we've seen the...
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Aug 31, 2013
08/13
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within tax increases a part of the fiscal cliff dear. they are making progress, a lot of people think we have a ways to go. we're cutting the deficit to quickly because they believe we need to get the economy going, invest in if the structure. republican say we cannot get the deficit down fast enough. sort of have a different philosophical role on this. what about the fight that led to the idea that we have sequestration right now? guest: into the of and 11, we had a big showdown between the white house and republicans on the debt ceiling, and it led to this budget control act that put in place the sequester cuts that we are living with her now, and the sequester cuts began in march and continue for another eight years. no one really seems to like them. the big cuts in defense spending among other things, a lot of people from both parties are trying to undo them, but they cannot agree on how to do it. there was also a debt ceiling increase in january or february where republican said we will agree to suspend the debt ceiling but only dem
within tax increases a part of the fiscal cliff dear. they are making progress, a lot of people think we have a ways to go. we're cutting the deficit to quickly because they believe we need to get the economy going, invest in if the structure. republican say we cannot get the deficit down fast enough. sort of have a different philosophical role on this. what about the fight that led to the idea that we have sequestration right now? guest: into the of and 11, we had a big showdown between the...
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Jan 3, 2013
01/13
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recessionyour tax rate may not be changing under the fiscal cliff agreement. this also extends unemployment benefits with 2 million people that are currently out of work for six more months. and spending cuts will be delayed but that lack of spending cuts is causing the republicans to vote against the measure. >> the senate, the president of the vice president have failed to meet their own stated obligation wish to bring our balanced bill that had tax adjustments. and also had spending adjustments and the swan fills out that. , the stock market surged on the heels of their agreement on wednesday there are future of land mines. in two months, that $109 billion in spending cuts will be triggered again. unless congress and that the president can come up with a mutual agreeable plan. and in three months, they will have a debt ceiling dilemma on weather or not to raise the debt ceiling. spending cuts will be required to get their support but the president says that that is not call it is going to work. >> i will negotiate over many things i will not have another de
recessionyour tax rate may not be changing under the fiscal cliff agreement. this also extends unemployment benefits with 2 million people that are currently out of work for six more months. and spending cuts will be delayed but that lack of spending cuts is causing the republicans to vote against the measure. >> the senate, the president of the vice president have failed to meet their own stated obligation wish to bring our balanced bill that had tax adjustments. and also had spending...
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Jan 2, 2013
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on the fiscal cliff. >> obama: this law is just one step in the broader effort to strengthen our economy and broaden opportunity for everybody. [ ♪ "world news tonight" ♪ ] >> stephanie: democrats win key tax fights and emerging fiscal cliff deal. it is seen as a win for the president. even the president was saying i guess we're going to have to do this in stages. people we're trying to govern with, it is not -- >> we're going to go through this whole fight again in two months. >> stephanie: this is what being ungovernable looks like. politico writing the emerging fiscal cliff deal enough to leave republicans with a major new year's hangover. there's that silver lining. not only raise tax rates but -- what they're saying, one of the things, this is like breaking this huge -- how many decades long stranglehold of republicans never voting for tax increases no matter what. the problem is the cbo is saying it's still not enough. i wish we could have gotten the two -- above 250 because it's not enough to reduce the deficit. anyway, but politico writing it not only raises tax rates but ext
on the fiscal cliff. >> obama: this law is just one step in the broader effort to strengthen our economy and broaden opportunity for everybody. [ ♪ "world news tonight" ♪ ] >> stephanie: democrats win key tax fights and emerging fiscal cliff deal. it is seen as a win for the president. even the president was saying i guess we're going to have to do this in stages. people we're trying to govern with, it is not -- >> we're going to go through this whole fight again...
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Jan 1, 2013
01/13
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the fiscal cliff is about taxes and spending. but the big question is that what is the spending issue. if they do have an impact it should not be an impact on the economy. >> people are really losing faith? >> these people of that nearly two years to get this done. for all of the whining... i do not really think there's much sympathy from the american people. the fact of the matter is that there is not just the fiscal cliff but also there is a pending bill that is being held up by the house of republicans. to make sure that the price of milk does not double puriwith nearly $7-for $eight! and can they still with the spending cuts? right now, we are going to hear that it is just going to kick the can and down the road. everything including the spending cuts will be on the table. >>> the impression is that they are closed with the devil is in the detail. there are a lot of emotion and. >> and in terms of the tax issue. this is cutting taxes. i do not want to make you... 12 renegotiate on your tax possibility but the question is weat
the fiscal cliff is about taxes and spending. but the big question is that what is the spending issue. if they do have an impact it should not be an impact on the economy. >> people are really losing faith? >> these people of that nearly two years to get this done. for all of the whining... i do not really think there's much sympathy from the american people. the fact of the matter is that there is not just the fiscal cliff but also there is a pending bill that is being held up by...
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Feb 27, 2013
02/13
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cliff. but the sequester where we really had the prospect of laying lots of people off and removing a lot of money precipitously from the economy that has the potential, it is not going to put the economy back into recession but it will put a dent in growth. >> john: dan gross is global business editor for "daily beast." thank you so much for joining us. >> any time. >> john: israel flares up on the eve of president obama's visit. what's happening there this time? what you're saying. you would rather deal with ahmadinejad than me. >>absolutely. >> and so would mitt romney. (vo) she's joy behar. >>and the best part is that current will let me say anything. what the hell were they thinking? >> john: welcome back to "viewpoint." it's time for our thing of the day. tonight's big thing is the big fat, flaming lie of the day from house speaker john boehner. here's the good speaker today still trying to blame the president for something he passed through congress, the sequester. >> where's the pres
cliff. but the sequester where we really had the prospect of laying lots of people off and removing a lot of money precipitously from the economy that has the potential, it is not going to put the economy back into recession but it will put a dent in growth. >> john: dan gross is global business editor for "daily beast." thank you so much for joining us. >> any time. >> john: israel flares up on the eve of president obama's visit. what's happening there this time?...
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Mar 14, 2013
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they got the new obamacare tax and then they got the fiscal cliff tax and three months later the democratic budget and senate and haven't produced in four years and now they want another trillion dollars to take out of the economy. and it's-- how do the republicans deal with this? i mean, i had john boehner on my radio show and paul ryan on the show last night. what are your thoughts? what are they doing right and wrong? >> doing something, proposing budgets all well and good. they had a continuing resolution last week, that they could have used to try and cut some of obamacare administrative expenses, put some language in it in order to curtail obamacare. obamacare is the big killer in this society and not just of health care, but of liberty and the constitution, and what do they do? they vote for it. not only do they vote for it, they don't allow conservatives in the house to put an amendment on it. obama's not taking boehner seriously, he's kicking him around like a soccer ball. that's the problem, the republicans have got to show they mean something, if they don't, this is going to cont
they got the new obamacare tax and then they got the fiscal cliff tax and three months later the democratic budget and senate and haven't produced in four years and now they want another trillion dollars to take out of the economy. and it's-- how do the republicans deal with this? i mean, i had john boehner on my radio show and paul ryan on the show last night. what are your thoughts? what are they doing right and wrong? >> doing something, proposing budgets all well and good. they had a...
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Feb 28, 2013
02/13
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the reality is is that the fiscal cliff, which was certainly hanging over everybody's heads in the last part of last year, that really took a big chunk of government spending out of -- out of the economy, so that was hanging on the economy. and we've got sort of the same thing going on this quarter, the first quarter of 2013. the big worry is, are we going to see a lack of growth again happen for the first quarter this year? >> alison, good to see, telling us why things are up when everyone thinks they should be down. we would love to let you continue but we wouldn't have a show left. we'll get you back another time. >> all right. >> they're great. >>> politics of this, of course, getting kind of ugly. veteran reporter bob woodward saying white house official threatened him after reporting on the forced budget cuts. >> and that white house official is gene sperling, a top economic obama aide. that's according to democrat aware of the situation. listen to what woodward said a white house official said to him. >> they're not happy at all and some people kind of, you know, said, look, we d
the reality is is that the fiscal cliff, which was certainly hanging over everybody's heads in the last part of last year, that really took a big chunk of government spending out of -- out of the economy, so that was hanging on the economy. and we've got sort of the same thing going on this quarter, the first quarter of 2013. the big worry is, are we going to see a lack of growth again happen for the first quarter this year? >> alison, good to see, telling us why things are up when...
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Jan 17, 2013
01/13
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the fiscal cliff is a short-term fix that has avoided us falling off the cliff and sending of the economy and the recession and it really fails to address the longer issues affecting the deficit and also the economic competitiveness of the united states and those of us that run the global companies obviously care very deeply about them. preserving the letter to nettie for comprehensive revenue neutral tax reform is a critical and very important to creating pro-growth tax law that will enable american companies to compete effectively against companies that are domicile in other countries around the world we need a level playing field. the united states has the highest corporate tax rate in the world. also the united states is one of the few countries in the world with a system that is called a global tax system rather than a territorial tax system. the 113th congress we are going to continue to advocate for comprehensive tax reform that broadens the base that reduces corporate tax rates and moves through a competitive territorial system. proctor and gamble pays income taxes and over 100 co
the fiscal cliff is a short-term fix that has avoided us falling off the cliff and sending of the economy and the recession and it really fails to address the longer issues affecting the deficit and also the economic competitiveness of the united states and those of us that run the global companies obviously care very deeply about them. preserving the letter to nettie for comprehensive revenue neutral tax reform is a critical and very important to creating pro-growth tax law that will enable...
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Jan 7, 2013
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that we have as a result of the fiscal cliff two more months to deal with the sequester and that is something that the president will be addressing. what he will not do, as he has made clear, is negotiate with congress over congress's sole response tobblet pay the bill that is congress has already incurred. nobody forced congress to rack up the bills that it incurred and it is an advocation of responsibility to say that we're going to let the country default and cause global calamity simply because we're not getting what we want. the president is not going to participate in that. and i would remind you of the damage caused to our economy by the approach that house republicans took on this matter just in the summer of 2011 as a result of their flirtation with default, the stock market plum metted, the do you fell 700 points. the united states was down agreeded and the do you fell 1100 points after the s&p downgraded the united states. uncertainty for businesses froze hiring, widespread uncertainty for middle class was caused and job figures in august of 2011 was the lowest of any month in our
that we have as a result of the fiscal cliff two more months to deal with the sequester and that is something that the president will be addressing. what he will not do, as he has made clear, is negotiate with congress over congress's sole response tobblet pay the bill that is congress has already incurred. nobody forced congress to rack up the bills that it incurred and it is an advocation of responsibility to say that we're going to let the country default and cause global calamity simply...
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Mar 16, 2013
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after the fiscal cliff was a result, employers might feel more comfortable being aggressive and hiring, considering the doom and gloom on the deficit at the start markets at an all-time level that makes you think the economy might be giving were overheated. he seems to be a division between the economy and stock market. >> host: looks like jacob is creating interest on our twitter call. jacob from virginia, more articulate than any others who call into c-span. let me go back to "the wall street journal." ron johnson a minute ago indicating he predicted republicans would struggle to reach any sort of a grant budget target with the president. >> guest: for years and years democrats want to raise taxes to reduce the deficit. here just raising taxes. spending the problem. can the democrats get some taxes as part of any deal that will accept some compromise or his taxes up the table and they can't get anything done? >> guest: will look at what senate democrats are looking forward to your kernel to the program from jacksonville, texas. good morning. thanks for taking my call. the thing that
after the fiscal cliff was a result, employers might feel more comfortable being aggressive and hiring, considering the doom and gloom on the deficit at the start markets at an all-time level that makes you think the economy might be giving were overheated. he seems to be a division between the economy and stock market. >> host: looks like jacob is creating interest on our twitter call. jacob from virginia, more articulate than any others who call into c-span. let me go back to "the...
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May 14, 2013
05/13
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because of the fiscal cliff, because of the sequester and because of the higher taxes but yet the economy has not fallen off a cliff. if you look at first-quarter earnings, earnings were better than expected. nothing to write home about on the revenue front but the earnings are certainly better than expected. that trend is likely to continue as we move through the rest of this year. and i think that is one of the reasons people are interested in stocks right now. also, when you put that together, with the liquidity that the fed is adding to the money supply, that certainly is another reason to be positive about the equity markets. i think if you, step back and you say, okay, we're trading at just under about 14.5 times, about just under $111. if you put a buck 12 on the s&p, you put a 15 multiple on it you easily see us getting up to 1680. it is probably around 2, 3% from where we currently are. it will not be the overall market. it will be stocks that have been lagging during the first quarter, that are going to be continuing this rally forward. ashley: so you like the cyclicals with tha
because of the fiscal cliff, because of the sequester and because of the higher taxes but yet the economy has not fallen off a cliff. if you look at first-quarter earnings, earnings were better than expected. nothing to write home about on the revenue front but the earnings are certainly better than expected. that trend is likely to continue as we move through the rest of this year. and i think that is one of the reasons people are interested in stocks right now. also, when you put that...
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Feb 16, 2013
02/13
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cliffs and sequesters. but, when you do that in del rio and eagle pass, and places along the border, you are growing the local economies. when you have a district the way that i have one, it is, it is really a good -- it's a good mix of things. and it helps the local economy gain strength. >> you represent a pretty conservative area. you are the only congressional democrat in texas to win your district. also won by republicans, governor romney. how dangerous do you consider the dogma of the tea party that cruz is affiliated with? >> i will tell you that, there's a trend i think that is going to start happening. i think the district that i represent, 23, is a great example, when ted cruz won the district by six points i was winning it by five points. i think people will start to look toward individual candidates and originally people said no way that a democrat is going to win those -- there's nobody purple in that district. they are all either mostly red, but some blue. and i think, as a result of my electi
cliffs and sequesters. but, when you do that in del rio and eagle pass, and places along the border, you are growing the local economies. when you have a district the way that i have one, it is, it is really a good -- it's a good mix of things. and it helps the local economy gain strength. >> you represent a pretty conservative area. you are the only congressional democrat in texas to win your district. also won by republicans, governor romney. how dangerous do you consider the dogma of...
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Jan 16, 2013
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that is one reason i voted against the fiscal cliff deal. raising taxes is not the way to grow our economy. they were spending increases. host: this from twitter. the va% of those polled are not satisfied with a gun laws -- we need to reinstitute the assault weapons ban and fix it. guest: we are willing to listen to proposals. the original assault weapons ban was not a meaningful law. it did not distinguish between the assault weapon and other types of weapons that fire bullets the same way. i think that's the problem with the -- a lot of people think it involves machine guns. host: new york state just passed legislation yesterday. i think this is what you're talking about. "this is not ok." you can purchase the same rifle without a pistol grip. they fire at the same bullets. guest: first of all, that refers to automatic weapons. in military-style automatic weapon cannot be purchased by a civilian in the united states today. if you want to collect them and found an older model, you have to go through extensive licensing and background checks
that is one reason i voted against the fiscal cliff deal. raising taxes is not the way to grow our economy. they were spending increases. host: this from twitter. the va% of those polled are not satisfied with a gun laws -- we need to reinstitute the assault weapons ban and fix it. guest: we are willing to listen to proposals. the original assault weapons ban was not a meaningful law. it did not distinguish between the assault weapon and other types of weapons that fire bullets the same way. i...
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Mar 8, 2013
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debt ceiling crisis, if we hadn't had the self-inflicted fiscal cliff crisis, and if we hadn't had the self-inflicted sequester crisis? can you imagine that? >> it would be extraordinary. because what that would mean is that the american public would benefit from our politicians in a very substantive fashion. you use the word empirical. we know what it means, it means that would i falsified or va fied through the census. we have enough sense to understand what is at stake. what is at stake is either the republicans safeguard their narrow ideological barn so they can continue to stack up hay with their own followers or they let the horses out the barn and let everybody feed freely. sorry for that analogy. the point is this, that america is being cooped up in a very narrow way by the very vicious ideology of the far right wing and the broad pastures of america need to be grazed in by those who have benefited, by those who should benefit from it. we have worked very hard here. all the crises to which you point suggest that america would be doing so much better, the jobs report today unexp
debt ceiling crisis, if we hadn't had the self-inflicted fiscal cliff crisis, and if we hadn't had the self-inflicted sequester crisis? can you imagine that? >> it would be extraordinary. because what that would mean is that the american public would benefit from our politicians in a very substantive fashion. you use the word empirical. we know what it means, it means that would i falsified or va fied through the census. we have enough sense to understand what is at stake. what is at...
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May 6, 2013
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it will fall off after the fl fiscal cliff adding the fiscal drag to continue. but that seems to be quite moderate. it is at this stage proved by asia and the u.s., europe is still in quite a depressive mode mainly because of the austerity measures taking place. but nevertheless, the numbers we saw today were improving slightly, albeit still contracting. i think all in all, the mood is good. if you have a bond retiring and you need to replace it, the yields on quality bonds are negligible. so on the other hand, you see the markets going up, the equity markets. so no one is serving some -- in the market and you create kind of a vacuum which can continue for a while. >> the only thing is, volumes aren't really there yet. and i always look at volumes and it's super important to see what type of a market it is. it does make a difference if you have a jump of 2,000% and it's two people buying as opposed to a jump of 2,000% and the entire world is buying. it does make a difference. and i wonder whether or not we're going to see volumes coming back in full over the nex
it will fall off after the fl fiscal cliff adding the fiscal drag to continue. but that seems to be quite moderate. it is at this stage proved by asia and the u.s., europe is still in quite a depressive mode mainly because of the austerity measures taking place. but nevertheless, the numbers we saw today were improving slightly, albeit still contracting. i think all in all, the mood is good. if you have a bond retiring and you need to replace it, the yields on quality bonds are negligible. so...
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they talk about these, the solution to the fiscal cliff or what little bits there. it doesn't add anything to the economy. it just saves people from concerns that they were going to go off the cliff. now we're only going off a portion of the cliff. we have at least three showdowns before now in march. i'm not taking sides in these, but each one creates uncertainty and it keeps the economy from growing. if you're a manager at a corporation, why are you going to hire when you don't know the lay of the land ahead? and that's been going on now for years. ashley: milton, you say the one issue the market is perhaps ignoring is implementation of obamacare. what impact will that have? >> everyone is talking about the cliff, the debt ceiling and of course the sequestration that has been postponed to march. those are issues. as we get into spring, we're going to have to deal with the implementation of obamacare. the states have not been as cooperative about generating the ex-changes that is the heart of that piece of legislation. health and human services are going to have it
they talk about these, the solution to the fiscal cliff or what little bits there. it doesn't add anything to the economy. it just saves people from concerns that they were going to go off the cliff. now we're only going off a portion of the cliff. we have at least three showdowns before now in march. i'm not taking sides in these, but each one creates uncertainty and it keeps the economy from growing. if you're a manager at a corporation, why are you going to hire when you don't know the lay...
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Feb 6, 2013
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fiscal cliff. the overwhelming majority of our republican colleagues in this house voted against that plan because they were more focused on protecting tax breaks for very wealthy individuals than about protecting jobs and the economy. that's their choice. their senate republican colleagues made a different choice, but our house republican colleagues can make the choice they want. with respect to the budget, the president will submit a budget. and our house republican colleagues can reject it or do what they want with it. the issue is not whether he'll submit a budget. he will. the issue is whether or not we would dictate to the president what the form of his budget should take, and that is wrong. it is also a little curious to hear this newfound support for these sort of balanced budgets from our republican colleagues. i would just remind everybody the last time we had a balanced budget was at the end of the clinton administration. why? because in addition to economic growth, they asked the americ
fiscal cliff. the overwhelming majority of our republican colleagues in this house voted against that plan because they were more focused on protecting tax breaks for very wealthy individuals than about protecting jobs and the economy. that's their choice. their senate republican colleagues made a different choice, but our house republican colleagues can make the choice they want. with respect to the budget, the president will submit a budget. and our house republican colleagues can reject it...
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job market did hold its own in december despite fears the economy would tumble right over that fiscal cliff. the labor department reports employers added 155,000 jobs, roughly matching the solid monthly pace for the past two years. that kept the unemployment rate at 7.8%. strong hiring in manufacturing and construction fueled those gains. >>> and we just told you earlier about a pilot accused of being drunk. it was a passenger causing the stir in this case. so much of a stir that fellow passengers aboard an international flight bound for the u.s. actually subdued him with duct tape. check this out. it happened after he allegedly caused a commotion aboard an icelandic flight to new york. witnesses say the 46-year-old man had too much to drink, screamed that the plane was going to crash, and allegedly threatened to choke a woman sitting next to him. but the man isn't going to be charged because the witnesses were reluctant to speak with prosecutors. apparently no witnesses know what happened. that is the news. back to you. >> at least the seat was in the upright position. >> yes. he had
job market did hold its own in december despite fears the economy would tumble right over that fiscal cliff. the labor department reports employers added 155,000 jobs, roughly matching the solid monthly pace for the past two years. that kept the unemployment rate at 7.8%. strong hiring in manufacturing and construction fueled those gains. >>> and we just told you earlier about a pilot accused of being drunk. it was a passenger causing the stir in this case. so much of a stir that...
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would be catastrophic, far worse than the impact of a fiscal cliff. people will remember back in 2011 the last time this course of action was threatened, our entire recovery was put at risk, consumer confidence plunged, business investment plunged, the growth dropped. we can't go down that path again. >> while the president says that he won't negotiate, there is another battle brewing in washington, it's been tweeted the gop and its far right tea party members, republicans breaking ranks with their house majority leader eric cantor to vote for a plan, 85 house republicans voted for the deal, 151 republicans voted against the deal, including cantor, and that didn't sit well with the tea party. amy kremer tweeted this "i'm extremely disgusted with what happened in the house tonight. there will be consequences." and if you scan any of the big national paper this is morning, the headline might be that yes a deal was reached but how we got there is also making news. "the los angeles times" proclaimed "fiscal cliff plan clears house with gop divided." "the
would be catastrophic, far worse than the impact of a fiscal cliff. people will remember back in 2011 the last time this course of action was threatened, our entire recovery was put at risk, consumer confidence plunged, business investment plunged, the growth dropped. we can't go down that path again. >> while the president says that he won't negotiate, there is another battle brewing in washington, it's been tweeted the gop and its far right tea party members, republicans breaking ranks...
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Jan 17, 2013
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let's now compare the fiscal cliff with the debt ceiling. here's the fiscal cliff we talked about it a lot. gdp impact was estimated to be 4% if it happened. with spending cuts of 120 billion, tax hikes of 480. by the way, this 120 still hangs around. that's the sequester. so now zoom out now, let's take a look at what the debt ceiling would be by contrast. there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen, right? that's what people say. >> okay. >> relax, steve. >> i'm okay. >> what happens is the rating agencies -- >> your heart rate is going. >> what's that? >> what about the ratings agencies if they were to downgrade us,
let's now compare the fiscal cliff with the debt ceiling. here's the fiscal cliff we talked about it a lot. gdp impact was estimated to be 4% if it happened. with spending cuts of 120 billion, tax hikes of 480. by the way, this 120 still hangs around. that's the sequester. so now zoom out now, let's take a look at what the debt ceiling would be by contrast. there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you...